June futures on the S&P/TSX index were up 0.8% at 7:00 a.m. ET.
Oil rallied after a 10% plunge in the past two sessions, buoyed by supply concerns and expectations that Beijing will provide more economic support after China’s factory inflation eases. .
Gold prices were also higher on weaker Dollar and Treasury yields ahead of crucial monthly US inflation data, which could dictate the path of Reserve policy tightening. federal. [GOL/]
The Toronto Stock Exchange’s S&P/TSX composite index ended down 0.6% on Tuesday, at 19,890.06. The index is now down 10% from its March 29 closing high. A correction is confirmed when an index closes 10% or more below its closing high. [.TO]
Dow e-minis were up 284 points, or 0.89% as of 7 a.m. ET, while S&P 500 e-minis were up 45.75 points, or 1.14% and e-minis Nasdaq 100 were up 185.5 points, or 1.5%. [.N]
TOP STORIES [TOP/CAN]
Canada’s competition agency said Tuesday that concessions offered by Rogers Communications Inc to acquire Shaw Communications Inc in a $16 billion deal were insufficient.
ANALYSTS’ RESEARCH STRENGTHS [RCH/CA]
Copperleaf Technologies Inc: National Bank of Canada lowers PT from C$20 to C$16.
Element Fleet Management Corp: CIBC upgrades stock from outperforming neutral
George Weston Ltd: CIBC raises target price from C$177 to C$188.
AMENITIES 7:00 a.m. ET
Gold futures: $1852.7; +0.64% [GOL/]
US Crude Oil: $103.28; +3.51% [O/R].
Brent Crude Oil: $105.79; +3.24% [O/R]
US ECONOMIC DATA EXPECTED WEDNESDAY
0830 mm Core CPI, SA for April: Expected 0.4%; Previous 0.3%.
0830 Core CPI YOY, NSA for Apr: Expected 6.0%; Previous 6.5%.
0830 CPI Index, NSA for Apr: Expected 288.654; Previous 287,504
0830 Core CPI, SA for Apr: Prior 288.81
0830 CPI mm, SA for Apr: Expected 0.2%; Previous 1.2%.
0830 Annual CPI, NSA for Apr: Expected 8.1%; Expected 8.5%.
0830 Real Weekly Salary mm for Apr: Prior -1.1%
0830 IPC mm NSA for Avr: Prior 1.340%
0830 CPI SA index for Apr: Before 287.710
0830 CPI Wage Earner for Apr: Before 283.176
1100 Cleveland fed CPI for Apr: Forward 0.5%.
1200 Refinitiv Ipsos Pcsi for May: Before 52.65
1400 Federal Budget for April: Expected $226.00 bln; Before – $193.00 bln
FOR NEWS FROM CANADIAN MARKETS, CLICK ON THE CODES:
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Reuters Global Equity Survey for Canada
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